PAPER-based packaging maker Chesapeake has been acquired by the Washington-based private equity firm The Carlyle Group.
The Nottingham-headquartered company, which has produced box packaging for premium spirits brands such as Johnnie Walker Double Black blended Scotch whiskey, is believed to be worth close to £500 million. It has 38 packaging sites across the US and several European countries, including a facility in Hillington Industrial Estate in Glasgow.
According to Chesapeake CEO Mike Cheetham, the acquisition “will support our aspirations to build upon our strong investments over the past three years as we further grow and develop our business. This collaboration will allow us to respond effectively to new business opportunities as we look to further align our business with our customers’ global requirements.” Eric Kump, managing director of Carlyle Europe Partners, said: “We look forward to partnering with them to further develop the company’s international footprint and to invest in delivering industry leading products and services”
